This was the final issue of the Penny Red line-engraved
postage stamp. It would be replaced in 1880 by surface printed technology.
Issued in 1864, nearly a quarter century after the 1840 Penny Black,
great strides were made in the production of line-engraved stamps.
Much of what was done by hand, an invitation to error, was now done mechanically.
The transfer roller was applied mechanically rather than guided by hand,
and as a result there are very few constant varieties to be found on this
issue. As members of the Great Britain Philatelic Society have demonstrated,
there is still rewards to be yielded through careful research in regards
to repairs, but the characteristics of the earlier issues, such as
major re-entries, shifted transfers, double letters, are no more.
Also, it was decided for this issue to place the plate numbers right on
the stamps, vertically on each side of the stamp within the lattice work
design (see the enlargement below). Examples below provide evidence
that the perforation process still left room for improvement. Perforation
errors and missing pins are not uncommon on this issue. Another type
of error which is persistent during this issue is the watermark error.
The "MA- ML TA-TL" watermark error, and inverted watermarks can be found
on this issue.

The fact that this issue provides little in
the way of constant varieties and has the plate numbers located on the
stamps pretty much limits the possibility of "fly specking or a need for
"plating" the stamps. Therefore, what then is the challenge
of this issue and what would be a rewarding approach to their study?
Since these stamps were printed in greater quantities than there predecessors,
and are less expensive to acquire in mint multiples, one might put together
a beautiful collection of plate blocks or a complete set of beautifully
centered mint singles. The 1864 Penny Red is also fertile ground
for postal history at prices more affordable in many cases than the earlier
issues. One area i find particularly interesting is collecting the
tremendous range of different types of postmarks which were in use at the
time. Since there is not much ground to cover in terms of varieties
on this issue I will instead supply examples of the different types of
postmarks which can be found on this stamp.

The following Plates were issued: 71-74, 76-125,
127, 129-225. Plate 77 is extremely rare and Plate 225 is scarce.
Click
here for a Table of Basic Information for each plate.